Essays in Financial Intermediation
Bord, Vitaly M.
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AbstractThis dissertation contains three essays on how differences among financial intermediaries affect the provision of financial services. The first essay, "Bank Consolidation and Financial Inclusion," focuses on deposit-taking and identifies the adverse effects of bank consolidation on lower-income depositors through the higher deposit account fees larger banks charge. In the second essay, "Large Banks and Small Firm Lending," Victoria Ivashina, Ryan D. Taliaferro and I examine the large and persistent shift in the composition of lenders to small businesses following the housing market crash in 2007. In the third essay, "Risk, Lending, and Organizational Form," I focus on mortgage lending and investigate how differences in organizational form drive both risk-taking during the real estate boom and subsequent performance after the real estate market crash.
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